An electronic trading system generally includes a trading device in communication with an electronic exchange. The electronic exchange provides market data to the trading device. Market data includes, for example, price data, market depth data, last traded quantity data, and/or any data related to a market for a tradeable object. In some electronic trading systems, the trading device sends trade orders to the electronic exchange. Upon receiving a trade order, the electronic exchange attempts to match quantity of the trade order with quantity of one or more contra-side trade orders.
In some electronic trading systems, confirmation of a trade action, such as sending a trade order to the electronic exchange, is required.
In addition, the drawings are for the purpose of illustrating example embodiments, but it is understood that the present disclosure is not limited to the arrangements and instrumentalities shown in the drawings.